Suntrust’s Manila casino hotel is estimated to cost US$1bn and opening currently pushed again this time to March, 31, 2024.

Although for some analytics it is still unclear how Suncity Group, a parent company of Suntrust, can meet its capital commitments, due to “Their complete business model has been smashed, and the principal is languishing in jail.” Beyond Westside City Manila, Summit Ascent has funded a US$200m expansion, delayed due to Covid, and temporarily lent US$120m to Suntrust.*

For better or worse, gaming has many examples of companies moving ahead despite ingloriously losing top executives. Another seasoned Southeast Asia gaming executive requesting anonymity believes Suncity “has value betcause it is listed and owns significant equity stakes in casinos in very interesting markets.” That source sees a name change in the cards.